Economics

South Korea sets 2025 budget at $509.71 billion amid fiscal restructuring

The country allocated 29.7 trillion Won for R&D in 2025 budget

Sweden’s trade surplus grows to $640 million in July 2024

Non-EU trade surplus hit SEK 22.7 billion during this period

India’s foreign exchange reserves climb to $674.66 billion

This figure is just below the previous record high of $674.919 billion

Eurozone inflation climbs to 2.6 percent in July, dampening ECB rate cut hope

Core inflation, excluding food and energy, held steady at 2.9 percent despite overall inflation rising

Vietnam ports’ cargo volume soars 16 percent to 501.117 million tons, TEUs reach 16.902 million in first seven months

Despite the surge in cargo volume, sea freight rates have been declining across all routes since the end of July

South Korea’s mid-sized businesses hit $2.52 billion in Q2 profits on semiconductors and auto parts

The operating profits of automobile and auto parts businesses increased 18.9 percent during the same period

Euro area trade surplus hits $24.6 billion, driven by machinery and vehicles

Intra-euro area trade fell 5.9 percent in the first half of 2024, reaching EUR1,303.8 billion

Switzerland’s industrial production up 7.3 percent on manufacturing and construction

This growth rate represents the largest increase since the first quarter of 2021

Service sector fuels German employment growth, adding 229,000 jobs in Q2 2024

The total number of employed and self-employed individuals rose to 46.1 million

India successfully launches Earth Observation Satellite-8

The satellite, designed for a one-year mission duration, carries a range of advanced technologies

South Korea’s automotive exports down 9.1 percent, still hit $5.4 billion in July 2024

Hybrid vehicle sales surged by 56.6 percent year-on-year, reaching $980 million

U.S. inflation slows to 2.9 percent, lowest in over 3 years

Fed rate cut likely as inflation continues to decline

Australian wage growth slows to weakest pace in a year as labor market cools

RBA sees easing wage pressures, but inflation battle persists

BoE faces pressure as U.K. inflation nudges higher to 2.2 percent in July on energy cost

The increase, although expected, was slightly smaller than the 2.3 percent rise anticipated by analysts

Japan’s wholesale inflation surges to 11-month high as weak yen bites

The corporate goods price index hit a record high of 123.1, marking the eighth straight month of increases

U.S. unemployment claims see biggest 11-month drop, easing recession fears with 233,000 filings

Government data last week showed the layoffs rate in June was the lowest in more than two years

Brazil reports $7.6 billion trade surplus in July 2024, exports hit record $30.9 billion

This was driven by strong performances in agriculture, extractives, and manufacturing